james burton
Share this content

Will a penalty apply

Will a penalty apply

Hello.  If, for example's sake, I set up a part-time sole trading activity in the summer of 2010 (from which I made a loss) and only registered online for Self Employment today, will I receive a penalty?  It will now apparently take up to 5 weeks for me to receive a UTR, so there's no way I could file a Return online by 31 January.  I didn't register earlier because I knew I would make losses (as still is the case and likely remain so for the next 6-months).  I am aware that, in the past with situations like this, HMRC have extended the online filing date, giving a tax payer additional time to submit a Return and, so long as that Return was submitted within a specified period (say 8 weeks) no penalty would be issued.  Does this still apply?


Please login or register to join the discussion.

By ACDWebb
12th Jan 2012 17:51

You will have

three months from the notice to file a return being issued to submit. So long as you meet that there is no filing penalty, but there could be a late notification penalty. That said it is based on tax lost and where is the loss other than the saving by set off?

Thanks (0)
By occca
12th Jan 2012 18:42


Deleted as it would appear I was wrong

Thanks (0)
12th Jan 2012 18:28

3 months...

As ACDWebb said, the statutory deadline is the later of 31st January or 3 months from the notice to file a return if you are submitting online, or the later of 31st October or 2 months from the notice to file a return if you are submitting a paper return.

Assuming you file within the timeframe from HMRC issuing you with a return, there won't be a late filing penalty.

Any penalty for late notification is based on a percentage of tax due, so would presumably be nil if you've made a loss.

Thanks (0)
15th Jan 2012 10:36

I appreciate your response. 

I appreciate your response.  Thank you.

Thanks (0)